Real Estate Question - Buying a House- Help Please.

Rosanna

New member
Apr 28, 2007
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Thinking of helping my friends buy a 3 bedroom ranch house in Buena Vista II, in Villa Mella.
Asking price is 1.5 million DR$$.
Question:
Is that a good area?
Is one and a half million DR pesos fair price for the property in that area?
My friends are elderly, how can they get a loan?
I am thinking to help them with a down payment.
Any feedback will be greatly appreciated.
 

realfortin

New member
Mar 28, 2007
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A house for less than 50,000$ is a fairly inexpensive property, even by DR standards I think. Are your friends in the DR? Abroad? That would make a big difference with regards to a loan.
 

PICHARDO

One Dominican at a time, please!
May 15, 2003
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As described the property feels fit for the price...

If you really want to help, allow them to be the ones doing the pick and you worry about how much you can help with...
 

Hillbilly

Moderator
Jan 1, 2002
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Villa Mella is not the "preferred" area of that part of the country...depends on who they are and what they want...

HB
 

Criss Colon

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Jan 2, 2002
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Rosana, S-T-O-P!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

After reading your previous "Posts",I "see" that you are not "Street Wise" to the Dominican Republic"!
You saw what happens when you have "Electricity" here,lots of "Neighbors" get a "Free Ride",at your expense!
You MUST live here for at least one year,BEFORE" you purchase any property!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
And maybe longer,and maybe "NEVER"!
Puschasing property here is not for the "Newbee",or inexperienced!
It is ALWAYS better to rent. Findout where you want to live,aand then "Think" about buying!
My "Read" about you is that you are a nice "Young Lady",BUT,you are "RIPE" to be "PICKED" here in the DR!!
Please be very careful!
You don't need to "HELP" everyone here who needs "HELP"! In fact,you CAN't"!
Please pay attention to DR1! At least to those of us who actually live,work,and have many years keeping the "LOBOS" at bay!!!!!!!!!!!!!
Cris Colon,CCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCC
 

Fernandez

Bronze
Jan 4, 2002
572
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It is probably best to visit and make sure you are clear on this purchase. Research well the title situation (very very important) and the surrounding homes/ neighburhood. Villa Mella is heavily urbanized, not very attractive, and in its obesity commands around 10% of the Dominican population - with a huge number of the uncounted. Tremendous current stress with subway?? construction project.
good luck.
 

Rosanna

New member
Apr 28, 2007
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My friends presently live in a horrible section of Villa Mella.
Just to give you idea how horrible - 2 months ago a bus commuter was robbed and killed over bus fare. Buena Vista II is a much better and much quiet area. My friends are a wonderful honest and hard working people I have ever known. Never lied to me before or took advantage of me. There are angels stuck in hell
and they just want to spend the autumn of their lives in a place they do not have watch over their shoulder all the time. Even if the place will be good for only another 10-15 years before the neighborhood changes and gets worse (sound just like many places in New York City, doesn't it?) I will help them and give them 10-15 years of peace and let them live like human beings.
Thank you all for your great advices and I will check the title and negotiate the price to adjust for future depreciation. Thank you all again.
 

johne

Silver
Jun 28, 2003
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I learn something everyday

My friends presently live in a horrible section of Villa Mella.
Just to give you idea how horrible - 2 months ago a bus commuter was robbed and killed over bus fare. Buena Vista II is a much better and much quiet area. My friends are a wonderful honest and hard working people I have ever known. Never lied to me before or took advantage of me. There are angels stuck in hell
and they just want to spend the autumn of their lives in a place they do not have watch over their shoulder all the time. Even if the place will be good for only another 10-15 years before the neighborhood changes and gets worse (sound just like many places in New York City, doesn't it?) I will help them and give them 10-15 years of peace and let them live like human beings.
Thank you all for your great advices and I will check the title and negotiate the price to adjust for future depreciation. Thank you all again.

As a buyer and seller of real estate-to put food on my table--I am always looking for ways to negotiate a better price. You gave me a new "line" tonight and I can't wait to use it on my next puchase. "adjust for FUTURE depreciation" Great line. Never heard or thought of using that before.
Love it!!

JOHN